You may or may not be aware, but the concept of the limited liability company, which revolutionized modern finance and capitalism, was originally developed by the Dutch East India Company in the 17th century. Now, hundreds of years later, LLCs and the concept of limited liability are as popular as ever, and most people starting […]
How to Start an LLC in Illinois: Step by step Read More »
Imagine having an awesome piece of real estate on the Northside of Chicago that’s been in the family forever. This piece of real estate is so precious and so historically intertwined with family history, having it go through probate court would not only be costly and complicated, but it’s almost an insult to your ancestors.
Transfer on Death Deed Illinois: How does it Work? Read More »
Most of the clients who walk into our office are unfamiliar with the term “quit-claim deed.” So, what exactly is a quit-claim deed, and how does it work in Illinois? If you have assets in Illinois and you are looking to transfer them to someone else, a quit claim deed is one of the easiest
Quit Claim Deed in Illinois: What It Does Read More »
There is nothing worse than losing a loved one, and it can even be worse if there are layers of bureaucracy involved when dealing with their assets left behind. People are compounded with grief and uncertainty, and questions about probate arise, such as who has the authority to act, and how the probate system in
Understanding the Illinois Probate Act Read More »
No one wants to get divorced, but unfortunately, seeing as how around half of marriages will end in divorce, it’s a completely valid concern. So, how to protect yourself in case of a divorce, without suffering exponentially? With careful estate planning, of course, and that includes a prenup. In the state of Illinois, a prenup
Prenuptial Agreement Illinois: An insiders guide Read More »
In our experience, people in Illinois might have come across the term Power of Attorney (POA), but in reality, they have no idea what that really means. Granting power of attorney allows an individual to make decisions and execute tasks on your behalf. This means if you are not present physically or do not want
Power of Attorney in Illinois: How it works Read More »
Sometimes people drift apart and need some space, but that doesn’t mean their marriage is ending. In this case, a couple is going to want to go the route of legal separation, and in Illinois, the laws are very specific. But are they fair towards one party or the other? What are some of the
Legal Separation in Illinois: Rights and Processes Read More »
In general, it’s a safe assumption that no one enjoys paying tax, and that goes for generations down the line. When it comes to estate planning in Illinois, one of the most common questions my clients ask is: “Will my heirs have to pay inheritance tax?” It’s probably the first question that comes up in
Illinois Inheritance Tax: What It Means for Your Estate Read More »
If you’ve heard that Illinois is an “at-will” state, and are not quite sure what exactly the term “at-will” encompasses, and what makes Illinois’s “at-will” definition differnet from other states, you’vce come to the right palce. It seems to be a rule that gives employers the ability to terminate employees for almost any reason, yet
Is Illinois an At-Will State? Understanding Illinois Law Read More »
If you are located in the state of Illinois, live with a significant other, and think that you are not married, you are correct. Illinois abolished common-law marriage over a century ago, and that choice still has a huge impact on how marriages and cohabitation are seen in the eyes of the law. That being
How Common Law Marriage in Illinois Works Read More »
